BusinessIndian rich: Ambani-Adani war intensifies

Indian rich: Ambani-Adani war intensifies

Highlight:

  • Adani was the biggest gainer last year
  • Adani also earns the most a day
  • Ambani will benefit from investment in the energy sector

India’s billionaires have seen a sharp increase in assets during Kovid. India, the world’s sixth-largest economy, is fast emerging from the second wave of the Covid, and the rich have amassed $ 25.7 billion in assets in 12 months. This is an increase of about 50 per cent over the same period last year. According to Forbes India’s 2021 list, India’s top 100 richest people have a combined net worth of $ 77.5 billion.

The assets of more than 80 percent of the people on the list have grown by more than $ 1 billion in a single year. Reliance Industries chairman Mukesh Ambani topped the list. Ambani has been the richest man in India since 2008. Reliance Industries’ decision to invest $ 1 billion in the renewable energy sector is expected to pay off in the years to come.

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The shocking fact is that one-fifth of the combined wealth of India’s 100 richest people comes from infrastructure tycoon Gautam Adani. If this situation continues, there will be an Ambani-Adai clash in the coming years for wealth. Adani is currently in second place for the third year in a row. But Adani was the biggest gainer in terms of percentage and assets last year. Shares of companies under Adani jumped sharply. As a result, assets jumped to $ 7.48 billion from $ 2.52 billion a year earlier. Recently, the IIFL and Wealth Haroon listed the daily income of billionaires in India. While Ambani earns Rs 163 crore a day, Adani earns Rs 1,002 crore.

Shiv Nadar, the founder of tech giant HCL, is in third place with $ 3.1 billion in assets. He recently became the CEO for his daughter Roshni Nadar. Resigned. The growth of the tech sector has increased Nadar’s assets by $ 1.06 billion in one year. Radhakishan Damani, head of Avenue Retail, remained fourth on the list. His current net worth is $ 2.94 billion. Last year, it was $ 1.54 billion. During the financial year ended March, Damani opened 22 new retail stores.

India has so far administered 87 crore Kovid-19 vaccines. This indirectly benefited Cyrus Poonawala, the founder of the Serum Institute of India. He is the fifth richest man in India with a fortune of $ 19 billion. Serum manufactures the Kovishield vaccine in India under the license of Astrazeneca. Other Kovid-19 vaccines are also being developed.

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There are six newcomers on this year’s list. They are also from the chemical sector. Ashok Boob (No. 93, $ 2.3 billion), Deepak Mehta (No. 97, $ 205 billion), Yogesh Kothari (No. 100, $ 194 million), Arvind Lal (No. 87, $ 255 million), Mangal Prabhat Lodha (No. 42) , $ 450 crore) and Pratap Reddy ($ 88, $ 253 crore) are the newcomers. The Forbes list includes people with assets of over $ 194 million. Last year the limit was $ 133 billion. Eleven people who were included in the list last year have been dropped this time due to the increase in the asset limit.

The Forbes list is based on the value and financial value of stocks received from households, individuals, stock markets, appraisers and regulatory agencies in India.

The 10 richest people in India and their wealth

1) Mukesh Ambani – $ 9.27 billion

2) Gautam Adani – $ 7.48 billion

3) Shiv Nadar – $ 31 billion

4) Radhakrishnan Damani – $ 2.94 billion

5) Cyrus is not Pune – $ 11 billion

6) Lakshmi Mittal – $ 1.88 billion

7) Savitri Jindal – $ 18 billion

8) Uday Kotak – $ 16.5 billion

9) Pallonchi Mystery – $ 1.64 billion

10) Kumar Birla – $ 1.58 billion

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